SnR Engine

SnR Engine

Basically, this is a Support and Resistance indicator like most others that use fractals to determine support and resistance levels.

The difference is that this indicator determines whether a support or resistance level has been broken based on ATR.

Levels that have been broken will become “dead levels” and will be shown with dashed lines.
Levels that have many rejections and fail to be broken will have increasingly thicker lines.

For effective use, you need to understand the characteristics of the pair you are trading—whether it tends to move sideways or trend.

If the market tends to be sideways, an effective strategy is to buy at support and sell at resistance.
If it tends to trend, then an effective strategy is breakout trading.